Cotton futures are posting Friday losses of 35 to 60 points so far on Friday. Crude oil futures are back up $1.54 per barrel to $60.23 on the day, with the US dollar index $0.210 higher to $99.260.
USDA raised yield on the US cotton this morning, up 58 lbs/acre, to 919 lbs. That took production up 900,000 bales to 14.12 million. Exports were increased 200,000 bales to 12.2 million, as stocks were up 700,000 bales to 4.3 million.
The Thursday online auction from The Seam showed 834 bales sold with an average price of 59.91 cents/lb. The Cotlook A Index was down 45 points on 11/13 at 74.95 cents. ICE certified cotton stocks were up 1,005 on November 13 with the certified stocks level at 19,244 bales. This week’s Adjusted World Price was released for the first time since the shutdown at 51.83 cents/lb.
Dec 25 Cotton is at 62.3, down 60 points,
Mar 26 Cotton is at 64.17, down 36 points,
May 26 Cotton is at 65.35, down 35 points
